Justin Tye
Morongo Valley, CA
Single-Family Homes
Active Realty I REAL
Morongo Valley, CA
Sat Sep 07 2024
This week the median list price for Morongo Valley, CA is $380,000 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has decreased to 31.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
The market has settled in at a relative stasis in inventory and sales conditions. It's a Buyer's market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.
Real-Time Market Profile
| Median List Price | $380,000 | |
| Median Price of New Listings | $757,000 | |
| Per Square Foot | $313 | |
| Average Days on Market | 107 | |
| Median Days on Market | 84 | |
| Price Decreased | 42% | |
| Price Increased | 3% | |
| Relisted | 13% | |
| Inventory | 31 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $750,000 | 2,000 | 5 - 10 acres | 3 | 2 | 66 | 1 | 1 | 49 |
| $486,500 | 1,639 | 1 - 2.5 acres | 3 | 2 | 32 | 1 | 0 | 80 |
| $352,200 | 1,349 | 0.25 - 0.5 acre | 3 | 2 | 45 | 0 | 1 | 80 |
| $264,945 | 938 | 0.5 - 1 acre | 2 | 1.5 | 64 | 0 | 3 | 126 |